Gift Acceptance | Clover Park Technical College
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Gift Acceptance

1.6

Policy

The CPTC Foundation is the College’s designated entity responsible for raising, receiving, administering, and investing gifts on behalf of the College. This policy does not include gifts made to employees, which are governed by the state ethics law, RCW chapter 42.52.

Procedure

  1. Gifts defined: Gifts are outright or deferred contributions received from individuals, partnerships, corporations, foundations, trusts, and other organizations (“donors”) for which neither goods nor services (other than general reports and fulfillment of donor intent) are expected, implied, or forthcoming for the donor in return.
  2. Receipt of gifts generally: All gifts to the College should be directed to the CPTC Foundation, except that gifts to student clubs formed under the Associated Student Government are directed to the clubs (although oversight of student club fundraising activities will be coordinated through the CPTC Foundation). When making gifts, donors may lawfully designate or restrict the uses and purposes of their gifts to particular areas or programs of the College, and if a donor does so and the Foundation accepts the gift, the Foundation and the College will respect the designation or restriction.
  3. Outright Gifts: An outright gift is a contribution of cash or property to the College in which the donor retains no interest. All unrestricted outright gifts will be deposited to the Unrestricted/Annual Fund.
  4. Non Cash Gifts: Non cash gifts (a.k.a. in-kind gifts) are donations of property other than cash, money, or checks. All non cash gifts will be accepted and disseminated through the CPTC Foundation in accordance with its Non Cash Gift Acceptance Procedures and the College’s Inventory Policy Chapter 3. Section 10.

 

Adopted: 2012

Revised:  2014